Choiceguy:


Please boss is this date still valid following recent ruling.just wanted some clarification.

BullBearMkt:

Kindly disregard the date. My eyes dey see "double" that day. The year of the report wasn't 2024!
My bad!!!

BullBearMkt:

Kindly disregard the date. My eyes dey see "double" that day. The year of the report wasn't 2024!
My bad!!!

BullBearMkt:

Kindly disregard the date. My eyes dey see "double" that day. The year of the report wasn't 2024!
My bad!!!

Choiceguy:


You for notify your students when you later find out. It is well

sky2891:

A lot were misled by this information

Raider76:


Please what actually happened at the court this time? Oando used to send a report to the NGX upon each adjournment. But they didn't this time. I couldn't find any reports of the adjournment online. I saw two different dates for the next hearing on different fora. What is the reason for the adjournment and to what date please.

BullBearMkt:

Raider76:


I don't think it's a good idea to dump money in individual stocks and walk away for 20 years, especially Nigerian stocks. It is better to choose an ETF or an actively managed index fund.

Raider76:




When I saw all the laughter you put in your post I thought you were not taking the issue of the mistaken date of Oando hearing you posted seriously enough. I am one of those that noted the date 12 Oct as you posted. Then I saw 10th July on another forum. I posted my above post here asking for clarification. Only Myc responded to me. Because I somehow trust NSEMPA more I didn't take the 10 July seriously. The rest, as they said, is history.

ositadima1:
I think Zenithbank is worth more than 54 naira (with this current OS), based on my other personal valuation using dividend discount method with Monte Carlo simulation (my seed dividend was 4 naira). The simulation ranged between 54 and 105 naira.

Do your own estimation and let me know what your target is as well.

Streetinvestor2:
I no sabi do further maths on top stocks,lol.Based on my simple style because what attracted to zenith is dividend. And because of consistency in dividend for the past 10 yrs.I believe zenith is worth #60 as per #4 last dividend paid.

SonofElElyonRet:
Tinubu should immediately call the fuel subsidy cabal to order and apologise to Dangote. They must not be allowed to frustrate him

Dangote is calling off plans to invest in a new steel plant in Nigeria after the government accused him of seeking to become a monopoly with his new refinery in the West African nation.

Dangote said, "let others that have more money than us go and bring their money from Dubai and invest in their fatherland."

“Our own board has decided that we should not have the steel plant. If we do, we will be called all sorts of names,” Dangote said at a media briefing Saturday at the refinery in Lagos, Nigeria’s commercial hub.



https://www.youtube.com/watch?v=atcaYPZyVkY

Streetinvestor2:
I no sabi do further maths on top stocks,lol.Based on my simple style because what attracted to zenith is dividend. And because of consistency in dividend for the past 10 yrs.I believe zenith is worth #60 as per #4 last dividend paid.

Streetinvestor2:
Don't mind the id....ts always quick to shout monopoly. How many licences has government been giving out for people to build refineries. Who or what stopped them from building thr own long before dangota. The bast...d saying nonsense about the quality of product from dangota. Why hasn't he made the government refineries working to check mate dangota quality and monopoly. Is alhaji that Has thr time.if I whr in his shoes I won't even sell again to Nigerians. The demand for his products alone in Africa is enough. He equally does not have to bring a kobo of the forex into nigeria. He can store it abroad
To be sincere the hunger in nigeria has not reached the level I want it so that it can reset the head of many.

He has given them opportunities now to go build steel companies and have thr own monopoly...nonsense reasoning. They are busy investing in dubai real estate. The day he enters into power .They will start shouting monopoly.Is it not monopoly that nnpc is sole importer of fuel.Is it not monopoly that few are stealing the wealth of the country.

SonofElElyonRet:


Highly probable that he will list shares of the steel company on the stock market thus creating wealth for the average Nigerian just like he has done and planning to do with his companies. His steel company will also create direct and indirect jobs as well as cause an industrial revolution with several ripple effects for the benefit of our economy... Tinubu had better call Dangote now and appease him. Those yeye people talking rubbish should be severely reprimanded

KarlTom:
Dangote faults quality of imported diesel, demands investigation
21st July 2024

By
Olugbenga Ige

The President of the Dangote Group, Aliko Dangote, has claimed that substandard petroleum products are being imported into the country and sold to unsuspecting Nigerians.

Dangote made the claim on Saturday during the visit of the leadership of the House of Representatives, led by the Speaker, Tajudeen Abbas, and his deputy, Benjamin Kalu, to the Dangote Refinery in Lagos State.

The business tycoon said there was a need for an investigation to be carried out to determine if there are some saboteurs in the oil sector or to find out if there are ulterior motives to demarket his business.

Africa’s richest man also said the best way to determine the quality of products being imported and sold to Nigerians is by going to the filling stations and buying and testing them.

He said, “The most important thing, Your Excellency, is to note that the imported one they are encouraging, is the spec in the test, but in certain cases, when you check (independently), different results will show.”

Refuting the allegation made by the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, that petroleum products from his refinery are substandard, Dangote said his products are better than imported ones, and they comply with the highest standards.

Dangote, who provided evidence to back up his claim, said diesel bought from two filling stations and that from his refinery was tested at the refinery’s laboratories using the ASTM D4294 method.

The Dangote Group President said the diesel, which was one of the best in terms of quality at the time the refinery started, had a sulphur content of between 600 parts per million and 650 ppm.

While stating that the quality of his diesel has improved as the sulphur content has reduced to 87 ppm, Dangote added that by next Monday, it will reduce to 50 ppm.

He further said the result does not only proof the reality of products from his refinery, but it also shows that substandard petroleum products are being imported into the country.

Dangote noted that the sulphur content of the diesel bought from the two filling stations was over 1,800 ppm and 2,600 ppm, respectively.

He said, “Our quality is about 600 to 650 ppm and is one of the best in terms of quality at that time when we started. But as of today, we’re at 87 ppm.

“I want to plead with the regulator to come at any time, whether Sunday or Monday or take the sample, and I guarantee you before he gets here, our ppm will be even below 10.

“When we’re coming here, His Excellency, the Speaker said, can we please wait to pick up samples from two filling stations? And also when we get into our plant, they will pick a sample to check the results. The results are actually out, and I’m going to share the same results with you.

“The sample from TotalEnergies’s diesel showed 1,829ppm sulphur concentration. The sample from Matrix Retail showed 2,653 ppm. Matrix was 61 below 66, and Total is 26 flashpoint. Our flash point showed 96. If you want to do the rest, we can run it at any given time.

“Today I want to announce to Nigerians that our parameters today are extremely, very good parameters. By the end of next week, we should be on 50 ppm and by August, it should be down to 10 ppm.”

He also called on the House of Representatives to investigate the quality of laboratories being used by the NMDPR to test imported products and compare that with the one at his refinery.

Dangote informed the lawmakers that he was also open to independent testing of his refinery’s products as that would only attest to their quality while exposing the problem with some of the products being sold by other players in the sector.

The businessman also dismissed monopoly claims, insisting that the Dangote Group did not receive any special incentive when the refinery was being built.

He also announced that the company would abandon its plans to enter Nigeria’s steel industry to prevent accusations of attempting to monopolize the market.

Dangote explained that going into the steel industry would involve encouraging the importation of raw materials from overseas, which contradicts the firm’s core mandate.

He said, “You know, about doing a new business which we announced, that is, the steel. Actually, our own board has decided that we shouldn’t do the steel because if we do the steel business, we will be called all sorts of names like monopoly. And then also, imports will be encouraged. So we don’t want to go into that.”

Dangote, however, urged other Nigerians to invest in the industry to help boost the country’s economy.

He added, “Let other Nigerians go and do it. We are not the only Nigerians here. There are some Nigerians with more cash than us. They should bring that money from Dubai and other parts of the world and invest in our own fatherland.”

Speaker Abbas said going by the presentation and the contradictory claims, there was a need for an investigation.

“I don’t know how we have this contradiction of two players representing the public and private sector. I think it is something we need to investigate further to find out if there are ulterior motives,” he said.

https://punchng.com/dangote-faults-quality-of-imported-diesel-demands-investigation/

SonofElElyonRet:
I project that Tinubu will sack the Farouk guy

The NMDPRA boss had, during the interview, revealed that the Dangote refinery, which had been selling diesel and aviation fuel in Nigeria for months, had not been licensed, stating that the plant was still at the pre-commissioning stage.

MOMAN’s reaction

Also, the Executive Secretary of the Major Energy Marketers Association of Nigeria, Clement Isong, described the NMDPRA comments as clear and direct. Isong told our correspondent that the sector needs that kind of information from the regulator.

“Clear and direct! We need this open and direct communication from time to time from the regulator to help the public dissect the issues that so seriously concern them,” he stated.

No level-playing field – IPMAN

The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Ukadike Chinedu, criticised the Nigerian National Petroleum Company Limited, International Oil Companies operating in Nigeria, and NMDPRA for allegedly frustrating indigenous refiners. He said the IOCs and NNPC were not supplying enough crude to the Dangote refinery and modular refineries, adding that the claims against indigenous refiners by NMDPRA were unnecessary.

“Those claims were unnecessary. We all know that these indigenous refiners are truly going through a lot, particularly with respect to accessing crude oil needed to produce refined products. So, they have a right to complain about this, knowing that Nigeria is a crude oil producer that exports this commodity to other refineries in foreign nations. You export the product, while your refineries are being starved. That’s not a good thing,” Ukadike stated.

Meanwhile, some former Group Managing Directors of the Nigerian National Petroleum Corporation (now Company Limited) have expressed concern over the limited information on NNPCL’s operations in the public domain since its transition to a private commercial entity. NNPC officially transitioned into a private commercial entity in July 2022 after the Presidential assent on the Petroleum Industry Act in August 2022.

The former GMDs of the national oil firm met with the current Group Chief Executive Officer of NNPC, Mele Kyari, during a CEO forum in Abuja on Saturday. They commended the company for its achievements but raised concerns about its limited public information.

In a communique issued at the end of the forum and signed by a former GMD, Dr Gaius Obaseki, the former NNPC helmsmen said, “We also noted that limited information is in the public domain on NNPC’s operations since the transition to a private commercial entity. This has led to misleading commentary which we believe is not in tandem with the strides achieved by the company.”

The communique listed the former GMDs at the forum to include Chief Chamberlain Oyibo, Dr Gaius Obaseki, Funsho Kupolokun, Abubakar Yar’adua, Austen Oniwon, and Andrew Yakubu.

Dangote refinery eyes 550,000bpd

Dangote Petroleum Refinery will reach 550,000 barrels per day of crude oil refining output this year, the President of the Dangote Group, Aliko Dangote, said on Saturday.


Dangote disclosed this during a tour of the $20bn plant located in the Lekki Free Zone in Lagos State, Reuters reported.

He, however, stated that the refinery would have to increase crude imports due to insufficient domestic supplies.

He said the 650,000bpd-capacity refinery, the largest in Africa, had only received five crude cargoes from the Nigerian National Petroleum Company Limited since it started operating earlier this year, instead of the 15 it expected.

“That is why we went ahead and bought some Brazilian crude, and we also got United States crude. Anytime we go to IOCs, they say go to brokers,” Dangote stated.
Source: https://punchng.com/Fuel-import-FG-working-against-local-refineries-operators-cry-out

Picky1:


Naija and it's people...always one step forward and two steps backwards

Anyways, we must all beware of, "The danger of a single story"!

I will rather we discuss - UCAP/CUTIX - interim div and bonus and leave politics to the greedy poli-thieves who have never added any value.

SonofElElyonRet:
https://nairametrics.com/2024/07/21/access-holdings-success-in-acquisition-struggle-with-shareholder-value/

Ginalex:
"..now it's time to eat the pie" abi? Good! Let them start with good interim dividend this year to shareholders then we can start listening to the big big grammar here and there